As has already been said, they do let water, creatures and dirt in and the quality of the materials used today, is not what it was before the Maerklin take over.
I have just lifted my line (after four years) for a rebuild and as part of my post-lift cleaning and servicing I have had to replace the terminals on four or so (newer ones), as the phillips screws had rusted up. Older versions with non phillips screws were fine! One was also suffering from etching away of the tracks on the PCB and that needed fixing with a jump wire.
I preferred the older 1700/17000 type, but today I buy the Piko version instead, which are the same in every respect, even price, but strike me as better quality. See the thread:

Thread
A tale of three reeds - Piko 35272
Yes creatures and dirt can still get in over time, but water is mostly kept out and away from the gubbins by the very positive clip on lid. Glendale stock these.
James